PSU Defence Stock Hits New 52-Week High, Jumps From Rs 234 To Rs 754 In 4 Months, Dividend Announcement Soon

Shares of this PSU Defence stock Mazagon Dock Shipbuilders Ltd. hit fresh 52-week high today as share market witnessed a decline today. BSE Sensex fell 69 points today to close at 60836 today while NSE Nifty fell 30 points to close at 18052.

The stock opened at Rs 728 apiece, touched intraday high of Rs 798 apiece and intraday low of Rs 728 apiece, respectively. The scrip has rallied nearly 20% in just 1-week and 47% in one-month.

Stock Performance: The 52-week high of the stock is Rs 798 apiece and 52-week low is Rs 224 apiece, respectively.

Market Capitalisation: The company has a market capitalisation of Rs 15,203 crore.

Interim Dividend: The company is also expected to announce its interim dividend later this month for which it has fixed the record date as well which is November 22, 2022.

According to the BSE filing of the board of directors of the company, "Meeting of the Board of Directors of Mazagon Dock Shipbuilders Limited scheduled on Thursday, November 10, 2022, inter alia, to consider and approve Unaudited Financial Results (Standalone & consolidated) for the quarter and half year ended September 30, 2022 will also consider declaration of Interim Dividend, if any, for the Financial Year 2022-23. Further in pursuance of Section 91 of the Companies Act, 2013 read with Rule 10 of the Companies (Management and Administrative) Rules, 2014, it is informed that Tuesday, November 22, 2022, will be the Record Date for reckoning eligibility of shareholders for the purpose of payment of Interim Dividend for the Financial Year 2022-23, if any, declared by the Board of Directors in its Meeting scheduled to be held on November 10, 2022."

Return In Last 1-Year: The stock has witnessed a sharp surge of 222% in just 5 months. Shares of Mazagon Dock Shipbuilders surged from Rs 234 apiece (June 20, 2022 price of the stock) to Rs 754 apiece today.

In the last 3 months, the stock has witnessed a sharp rise of 175% and 154% gain in the last 1-year.

The company has no debt since the last 5-years and it is a zero-threat stock. The small cap company was incorporated in 1934 and operates in Defence sector.

About The Company: Mazagon Dock Shipbuilders Limited, aptly called "Ship Builder to the Nation", is one of India's leading Defence public sector undertaking shipyard under the Ministry of Defence. Main activities are construction of warships and submarines with facilities situated at Mumbai and Nhava (under development), according to its official website.